© Dukascopy Bank SA
"There is a structural unemployment problem in the U.S. The best the economy can do, even if it is performing well, is an unemployment rate that is probably significantly higher than it was pre-crisis"
- UBS (based on Bloomberg)
Pair's Outlook
USD/CHF is close to violating an uptrend support at 0.9746/22, which stayed intact for more than three and a half months, but currently looks too soft in order to continue underpinning the currency pair and aid its rally. The additional supports are at 0.9691 and 0.9656/43, while rallies are to be limited by resistances at 0.9793 and 0.9837/47.
Traders' Sentiment
Positive SWFX traders' sentiment is largely unchanged towards USD/CHF, being that 71% of the positions held on the pair are long and only 29% are short. Distribution of orders, on the other hand, is contrarian, since 46% are to buy the U.S. Dollar and 54% are to sell it against the Swiss Franc - one of the least popular currencies.
© Dukascopy Bank SA